Companies

Britam takes over Real Insurance after KFA buyout

britam

Britam building situated at Upper Hill in Nairobi. Photo/FILE

Britam has taken full ownership of Real Insurance after buying out Kenya Farmers Association (KFA) which was the remaining minority shareholder in the company with a one per cent stake.

The Nairobi Securities Exchange-listed firm now owns 100 per cent of Real which it has integrated into its existing business under the Britam brand.

“In June 2015, the group acquired the remaining one per cent of Britam General Insurance Company (Kenya) Limited (formerly Real Insurance Company Limited),” Britam said in its latest annual report.

The company said it paid KFA Sh14.6 million, adding that the transaction is line with its regional expansion strategy.